Current and Ex-Finance Ministers Clash on Property Revaluation Law
Albanian Daily News
Published July 26, 2016

Parliament paved the way on Thursday to the government's initiative that allows the revaluation of real estate, although the majority and the opposition were involved in debates related to the purpose of the draft.

Former Finance Minister Ridvan Bode, lawmaker of Democratic Party, said that this initiative is not a 'candy' in an election year but it is rather a penalization as according to him, the government intends to change the scheme of taxation on the basis of value, which will increase the financial burden imposed on citizens in the future.

But Minister Arben Ahmetaj rejected this attitude of the opposition saying that this is a law of the revaluation of assets, which offers an opportunity, limited in time, to facilitate a potential fiscal burden in the future for all those who want to revaluate their assets so that the latter get the real market value.

Further on, in response to Bode's statements and debates on the economic situation in the country, Minister Ahmetaj listed some of the reforms and fiscal initiatives that have improved the economic situation in the country.

According to him, for the first time, the government has not created negative balances while he said that the debt is much lower this year than in previous years, starting a downward trajectory," he said.

Ahmetaj also praised the attitude of opposition as according to the latter, despite the goal it would vote for the property revaluation initiative.

"We support any measure serving the citizens and the business' interests and therefore we have expressed vote in favor, but in reality we are dealing with a peripheral measure of interest to a limited number not exceeding 2% for citizens while there is no interest from businesses or the citizens who want to sell their apartment," said Bode.

During this period, individuals may reassess real estate, paying a tax on the difference in the level of 2 percent and businesses at 3 percent.

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